I’ve been hearing this advice from a lot of people lately: Get out of the dollar. Put your money in pesos, euros, Canadian dollars and other currencies.
This begs the question: Is the dollar a doomed currency?
After the Fed rate cut, investors rallied towards the peso, causing it to gain a surprising half a peso in just one day. Trading at the Philippine Dealing & Exchange Corp. reached an all-time high of P26 billion. Investors were buying both short-term and longer-term tenors. A case of increased bullishness in the peso? Knee-jerk reaction? Or is the peso really becoming a better choice over the dollar?
I can’t believe this is proof of investor confidence in the Philippines as a whole when you have the ZTE deal drama going on at the same time. INQUIRER.net hit a million page views in one day because of the ZTE coverage.
Joke time. What’s the Filipino version of the American alphabet?
A, B, Z, T, E, F, G…
November 2nd, 2007 at 6:55 am
USA is definitely not the most powerful country in the world for nothing, they can easily manipulate everything including bouying up the dollars when the (extreme) need arises. They can even afford to start a war with Iran if they think the long term benefit outweighs the risk. They can do what they all what they wanted to do and still come out a winner. So i bet the $$ is still not doomed, not in this lifetime (yet).
October 10th, 2007 at 10:52 am
The USA has resourses to backup the dollar while other countries don’t. Remember the USA isn’t a third world country. It has took over 200 years for the USA to get into the best sitituation.
October 5th, 2007 at 11:46 am
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September 23rd, 2007 at 10:11 pm
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September 20th, 2007 at 5:43 pm
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